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Mason Corporation had $650,000 in invested assets, sales of $700,000, operating income amounting to $99,000, and a desired minimum return on investment of 15%. The investment turnover for Mason Corporation is

Respuesta :

Ritmeks

Answer:

1.08 times

Explanation:

Mason corporation has $650,000 in invested assets

Sales is $700,000

Operating income is $99,000

Minimum investment on return is 15 percent

Therefore the investment turnover for mason corporation can be calculated as follows

= net sales/debt

= 700,000/650,000

= 1.08 times